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Braille Battery, Inc. acquired by Grafoid Inc.
September 9, 2014
Benchmark International has advised on the successful sale of Braille Battery, Inc. to Grafoid Inc. for an undisclosed sum.
Sarasota, Florida-based Braille Battery was founded in 2002 and is a global leader in the development, production and sales of ultra lightweight lithium ion high performance batteries and seller of the world’s first environmentally sustainable AGM carbon fiber batteries for IndyCar, NASCAR, Formula 1, motorcycles and for the marine industry.
Incorporated in 2011, Ottawa-based Grafoid is a graphene development and investment company partnered with Focus Graphite Inc., owner of the high-grade Lac Knife, Quebec graphite deposit, and; graphene producer Graphite Zero Pte Ltd. And the National University of Singapore’s Graphene Research Center, all of whom are now represented at Grafoid’s Innovation Park facilities in Kingston, Ontario.
Under the terms of the agreement, Grafoid acquires 75% ownership interest in Braille and Company-founder, Blake Fuller, will continue to lead the Company as President and Chief Operating Officer.
Discussing the transaction, Mr Fuller noted, “it is an exciting advancement in corporate development because it will allow us to take 21st century technologies and move them into the not-so-distant future.
“From our initial discussions with Grafoid’s President and Chief Technology Officer, Dr. Gordon Chiu, it was very clear that Braille Battery was the perfect vehicle for winning the race to market for graphene technology.”
Speaking on the successfully completed transaction, Benchmark International Deal Leader Director, Kendal Stafford commented, “This deal represents a superb opportunity for both the owner, Mr. Fuller, who will continue to lead the business following the successful partial sale, and also company, which will now benefit from greater financial backing to complement Mr. Fuller’s obvious adeptness within this industry.”
Everyone at Benchmark International would like to wish all parties involved the very best going forward.
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